Sector - Manufacturing
Type - MBO/MBI
Date - April 2010
Location - Rotherham
Based in Wath-upon-Dearne, Lightmain Leisure is one of the UK's leading designers and manufacturers of playground and outdoor leisure equipment. The company now employs over 40 staff and has developed a key presence in its market producing and selling a range of products including all weather multi-use games areas (MUGAS), skate parks, playground equipment, shelters and street furniture.
YFM Private Equity invested £600,000 alongside finance facilities from Yorkshire Bank to support the management buy-out of Lightmain Company Limited. The buy-out sees the Sales Director Trevor Lafferty and his team acquire a majority shareholding in Lightmain Company Limited, containing the leisure division, with the construction and engineering divisions hived out to a company controlled by the vendor.
YFM Equity Partners added value
Trevor Lafferty commented: "There is a great deal of work that needs to be carried out to achieve an MBO but with the help and skills of my experienced team, and the support and encouragement of David Gee and YFM, this transaction was successfully completed with minimal interruption to normal business. We look forward to working with YFM in the months and years ahead, expanding the business through new opportunities."
Lightmain was founded by Yorkshire entrepreneur Gary Beresforde in 1991. "I am very proud of what we have achieved in establishing Lightmain Leisure as one of the leading UK suppliers in its niche and I wish Trevor and his team the very best of luck as they take the business onto the next stage."
David Gee, Director of Investments at YFM said "We have been impressed with the impact that Trevor and his team have in expanding the customer base over the last couple of years and look forward to them building on this success. The achievements of businesses such as Lightmain with a strong market presence and a dedicated management team are a key to weathering economic downturn and driving future growth. We and delighted to support them in this transaction and wish them all the best for the future."